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At Home Surges After Report Of Kohl's Acquisition Interest

At Home Surges After Report Of Kohl's Acquisition Interest

Shares of At Home Group Inc (NYSE: HOME) surged Wednesday after a published report that department store operator Kohl's Corporation (NYSE: KSS) has expressed interest in acquiring the home decor chain.

Reuters reported Kohl's had approached At Home about the possibility, with an eye toward expanding its customer base and broadening its presence in the home category, which is only now a small part of the retailer's business. Reuters cited unnamed sources in the report.

At Home Group has been exploring a sale for the last three months, according to the report, and is in negotiations with private equity firms, including Hellman & Friedman LLC.

Shares of At Home Group were were up 9.5 percent at $22.58 after the news. Shares of Kohl's were dropping, trading down 1.4 percent to $64.53.

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Photo by Mr. Satterly/Wikimedia.

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